Corn Gluten Feed 18%；Corn Gluten Meal 60% ;DDGS 26%

October 15, 2024

Corn

On the 14th, corn prices remained stable overall, with local fluctuations and increases. The reluctance of farmers in the main production areas of China to sell increased, shipments slowed down, and the state reserve entered the market to purchase new grain. The policy boosted market sentiment slightly, which was beneficial to spot prices. Based on various factors, we believe that in October, except for the opportunity for a short-term rebound in the local market, the market transaction price in most regions will continue to maintain a weak trend and continue to fluctuate and adjust in the bottom range. The monthly average price of corn in the production area in October will continue to fall month-on-month and the probability of a significant decline is still high. In November, as the harvest gradually came to an end, the expectation of reduced production was gradually realized, and the import volume of imported corn and substitutes decreased significantly. The probability of corn prices in the production area stopping the decline and rising moderately is expected to increase moderately. Pay close attention to the impact of weather conditions during the harvest period.

DDGS

On the 14th, the price of DDGS was weak and stable. Downstream enterprises have shown a good enthusiasm for picking up goods recently, while alcohol enterprises have performed generally well. The market is in a wait-and-see mood. Feed enterprises mostly purchase on demand, while alcohol enterprises mostly execute previous contracts. The sales of some alcohol enterprises are good. In October, corn deep processing enterprises continued to be in the peak production season, the operating rate continued to remain high, corn consumption continued to grow, and DDGS production and supply continued to grow. On the demand side, the peak season for aquaculture will gradually come to an end, and the demand for DDGS will decline. The game between supply and demand will continue to exert negative pressure on prices. Combined with the impact of price changes of related products such as corn and soybean meal, it is predicted that the market transaction price of DDGS in the production area will continue to be weak most of the time in October, and the probability of the monthly average price continuing to fall month-on-month is still high.

ZHENGZHOU BRIDGE BIOCHEM CO.,LTD

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Author:

Ms. Suzan

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admin@bridgebiochem.com

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